logo
  

Norsk Hydro Q4 Profit Climbs On Strong Revenues - Quick Facts

Norwegian energy and aluminum company Norsk Hydro ASA (NHY,NHYDY.PK,NHYDY.PK) reported Tuesday that its fourth-quarter net income from continuing operations was 8.53 billion Norwegian Kroner, up 18 percent from 7.23 billion kroner a year ago.

Earnings per share from continuing operations grew 2 percent to 3.47 kroner from 3.40 kroner a year ago.

Adjusted net income from continuing operations was 5.81 billion kroner, compared to 1.09 billion kroner last year. Adjusted earnings per share from continuing operations were 2.57 kroner, up from 0.47 kroner a year earlier.

Earnings before financial items, tax, depreciation and amortization or EBITDA climbed 45 percent to 12.46 billion kroner. Adjusted EBITDA was 9.01 billion kroner, significantly higher than last year's 3.40 billion kroner.

Revenue climbed 56 percent to 46.43 billion kroner from last year's 29.82 billion kroner.

Hydro achieved an adjusted return on average capital employed of 18.6 percent in 2021, significantly higher than the 3.7 percent achieved in 2020. It is also above the ambition to deliver 10 percent over the cycle.

Looking ahead, President and CEO Hilde Merete Aasheim, said, "Hydro's 2025 strategy aims at increasing production of low-carbon aluminium and growing in renewable energy."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ice Cream maker Ben & Jerry's reportedly filed a lawsuit against parent and British consumer giant Unilever to stop the sale of its Israeli business to a local license-holder Avi Zinger. The company alleged that the decision was made without the approval of its independent board. The judge reportedly denied Ben & Jerry's application for a temporary restraining order against Unilever. J&M Foods is recalling certain Lavender Shortbread Cookies sold through department store chain Target Corp. due to undeclared allergens, the U.S. Food and Drug Administration said. These packages were erroneously packed with Chocolate Chip Cookies and do not disclose the presence of a possible allergen, such as soy or eggs. A multi-state listeria outbreak that has killed one and sickened at least 23 others has been linked to Florida -based Big Olaf Creamery brand ice cream, according to the Centers for Disease Control and Prevention or CDC. The outbreak strain has been reported from 10 states, resulting in 22 hospitalizations. One death has been reported from Illinois.
RELATED NEWS
Follow RTT